SpaceX begins trading on Nasdaq at a staggering $1.78 trillion valuation after raising $75 billion in what marks the largest public market debut in history. The Texas-based rocket company priced shares at $135 each with only 4 percent free float, allocating a record portion to retail investors who oversubscribed eagerly.

Major indices rewrote their rules to accommodate the listing, with Nasdaq 100 allowing companies to join just 15 days after IPO. Musk maintained unprecedented control as CEO and chairman, while the management-friendly governance structure drew criticism from New York and California pension funds. Wall Street banks collected substantial fees despite Musk negotiating advisory payments under 0.75 percent.

The IPO prospectus projects AI revenues will surge 100 times by 2030, targeting a $26.5 trillion market opportunity that dwarfs Starlink's $2 trillion potential. Goldman Sachs and 23 other banks backed these optimistic forecasts, though skeptics question whether SpaceX's Grok models can catch up to Anthropic, Google and OpenAI.

Meanwhile, Saudi Arabia's sovereign wealth fund injected only a third of the $600 million LIV Golf needs to complete its season, worsening the tour's financial crisis. The Supreme Court also ruled 6-3 against hedge fund manager Boaz Weinstein's Saba Capital in its campaign against closed-end fund management practices.